1. For my business, Social Athlete Management, I have a long-term exit plan. I do not intend to sell my business in the near future and would only exit the business if I became interested in another venture, most likely one related to sport. I can imagine selling or passing off the responsibilities of the company in the next few decades, but I do not see my venture as a get rich quick, get out plan. However, this is not a business that I want, at the end of the day, to be the legacy I pass down to my children
2. My non-permanent long-term exit strategy is based in my personal beliefs in myself, my loved ones and my company. I do not want to run this company forever, as I can see myself wanting to pursue alternative paths down the line. I do not want this to be a family legacy business as I want my future children to pursue their own dreams, not the ones I have passed to them. And finally, I think my business only has a limited amount of total growth, so I would not want to continue pursuing a business if I hit an unbreakable ceiling and business stagnates. To be fair though, all of these are the ideas and opinions of a 20 (nearly 21) year old college student who, at this point, could never imagine doing the same thing for several decades on end. Once I begin working in the “real world”, my convictions and beliefs could very well change.
3. Honestly, I do not think that my exit strategy has had much impact, at least thus far, on the rest of my work, as the exit strategy is not something I have thought much about prior to this assignment. However, as I finish up the semester, I would be unsurprised to see it influence my future work, as I may start to try and build something that can be sustained without my immediate presence in the long-term.
Cooper,
ReplyDeleteI also only would leave my business if I became interested in another. I am a very excited person and easily will get into a lot of different ideas and ventures. Although this could lead me to possibly exit, I know that this venture is special to me, just like yours is to you. What makes something like our ventures special is that they are most likely to only real businesses that we have spent real time and effort into crafting and for that reason, they are like our first real children in terms of the business world.
Hello Goetz, if I am truly honest, I have been following your posts for the past weeks and I am glad to hear that you do not intend on selling your business idea. As far as I am concerned I would say that you are extremely passionate about your idea and I can not picture myself seeing your work in something different. And even if you might I would be sad since I believe that you would put all your heart into this business. I have no doubt that your children will inherit this passion of sports of yours which would make your company the ideal workplace to work for them as well.
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